Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Supplemental Equity and Accumulated Other Comprehensive Income (Loss)

v3.19.1
Note 7 - Supplemental Equity and Accumulated Other Comprehensive Income (Loss)
9 Months Ended
Mar. 31, 2019
Notes to Financial Statements  
Comprehensive Income (Loss) Note [Text Block]
Note
7
.
Supplemental Equity and Accumulated Other Comprehensive Income (loss):
 
Consolidated Changes in Equity (amounts in thousands)
  
   
Common Stock
   
Additional
Paid-in
   
Retained
   
Accumulated
Other
Comprehensive
   
 
 
 
   
Shares
   
Amount
   
Capital
   
Earnings
   
Income(Loss)
   
Total
 
Balances at June 30, 2018
 
 
37,608
   
$
376
   
$
246,568
   
$
876,931
   
$
(44,814
)
 
$
1,079,061
 
Cumulative effect adjustments due to adoption of new accounting standards
   
 
     
 
     
 
     
24,780
     
(24,682
)
   
98
 
Net earnings
   
 
     
 
     
 
     
17,403
     
 
     
17,403
 
Other comprehensive loss
   
 
     
 
     
 
     
 
     
(1,136
)
   
(1,136
)
Share repurchases
   
 
     
 
     
 
     
 
     
 
     
-
 
Surrender and retirement of stock to exercise options
   
 
     
 
     
 
     
 
     
 
     
-
 
Common stock issued for exercise of options
   
166
     
2
     
15,609
     
 
     
 
     
15,611
 
Common stock issued for restricted stock awards
   
24
     
0
     
 
     
(1,909
)
   
 
     
(1,909
)
Cash dividends
   
 
     
 
     
 
     
(12,066
)
   
 
     
(12,066
)
Stock-based compensation expense
   
 
     
 
     
11,327
     
 
     
 
     
11,327
 
Common stock issued to employee stock purchase plan
   
5
     
0
     
842
     
 
     
 
     
842
 
Employee stock purchase plan expense
   
 
     
 
     
238
     
 
     
 
     
238
 
Balances at September 30, 2018
 
 
37,803
   
$
378
   
$
274,584
   
$
905,139
   
$
(70,632
)
 
$
1,109,469
 
Net earnings
   
 
     
 
     
 
     
17,556
     
 
     
17,556
 
Other comprehensive loss
   
 
     
 
     
 
     
 
     
(12,379
)
   
(12,379
)
Share repurchases
   
(95
)
   
(1
)
   
 
     
(15,404
)
   
 
     
(15,404
)
Surrender and retirement of stock to exercise options
   
 
     
 
     
 
     
 
     
 
     
-
 
Common stock issued for exercise of options
   
24
     
0
     
2,408
     
 
     
 
     
2,408
 
Common stock issued for restricted stock awards
   
3
     
0
     
 
     
0
     
 
     
-
 
Cash dividends
   
 
     
 
     
 
     
(12,086
)
   
 
     
(12,086
)
Stock-based compensation expense
   
 
     
 
     
6,784
     
 
     
 
     
6,784
 
Common stock issued to employee stock purchase plan
   
0
     
0
     
 
     
 
     
 
     
-
 
Employee stock purchase plan expense
   
 
     
 
     
77
     
 
     
 
     
77
 
Balances at December 31, 2018
 
 
37,735
   
$
377
   
$
283,854
   
$
895,205
   
$
(83,011
)
 
$
1,096,425
 
Net earnings
   
 
     
 
     
 
     
44,654
     
 
     
44,654
 
Other comprehensive income
   
 
     
 
     
 
     
 
     
3,378
     
3,378
 
Share repurchases
   
 
     
 
     
 
     
 
     
 
     
-
 
Surrender and retirement of stock to Exercise options
   
 
     
 
     
 
     
 
     
 
     
-
 
Common stock issued for exercise of Options
   
73
     
1
     
7,336
     
 
     
 
     
7,337
 
Common stock issued for restricted stock Awards
   
1
     
0
     
 
     
 
     
 
     
-
 
Cash dividends
   
 
     
 
     
 
     
(12,086
)    
 
     
(12,086
)
Stock-based compensation expense
   
 
     
 
     
5,640
     
 
     
 
     
5,640
 
Common stock issued to employee stock Purchase plan
   
4
     
0
     
834
     
 
     
 
     
834
 
Employee stock purchase plan expense
   
 
     
 
     
84
     
 
     
 
     
84
 
Balances at March 31, 2019
 
 
37,813 
 
 
378 
 
 
297,748 
 
 
927,773 
 
 
(79,633
 
1,146,266 
 
 
   
Common Stock
   
Additional
Paid-in
   
Retained
   
Accumulated
Other
Comprehensive
   
 
 
 
   
Shares
   
Amount
   
Capital
   
Earnings
   
Income(Loss)
   
Total
 
Balances at June 30, 2017
 
 
37,356
   
$
374
   
$
199,161
   
$
799,027
   
$
(48,935
)
 
$
949,627
 
Net earnings
   
 
     
 
     
 
     
15,863
     
 
     
15,863
 
Other comprehensive loss
   
 
     
 
     
 
     
 
     
(824
)
   
(824
)
Surrender and retirement of stock to exercise options
   
 
     
 
     
 
     
 
     
 
     
0
 
Common stock issued for exercise of options
   
33
     
0
     
3,051
     
 
     
 
     
3,051
 
Common stock issued for restricted stock awards
   
13
     
0
     
 
     
(227
)
   
 
     
(227
)
Cash dividends
   
 
     
 
     
 
     
(11,958
)
   
 
     
(11,958
)
Stock-based compensation expense
   
 
     
 
     
3,718
     
 
     
 
     
3,718
 
Common stock issued to employee stock purchase plan
   
7
     
0
     
755
     
 
     
 
     
755
 
Employee stock purchase plan expense
   
 
     
 
     
77
     
 
     
 
     
77
 
Balances at September 30, 2017
 
 
37,409
   
$
374
   
$
206,762
   
$
802,705
   
$
(49,759
)
 
$
960,082
 
Net earnings
   
 
     
 
     
 
     
48,847
     
 
     
48,847
 
Other comprehensive loss
   
 
     
 
     
 
     
 
     
(7,058
)
   
(7,058
)
Surrender and retirement of stock to exercise options
   
 
     
 
     
 
     
 
     
 
     
-
 
Common stock issued for exercise of options
   
38
     
1
     
2,892
     
 
     
 
     
2,893
 
Common stock issued for restricted stock awards
   
22
     
0
     
 
     
0
     
 
     
-
 
Cash dividends
   
 
     
 
     
 
     
(11,988
)
   
 
     
(11,988
)
Stock-based compensation expense
   
 
     
 
     
4,985
     
 
     
 
     
4,985
 
Common stock issued to employee stock purchase plan
   
-
     
 
     
-
     
 
     
 
     
-
 
Employee stock purchase plan expense
   
 
     
 
     
59
     
 
     
 
     
59
 
Balances at December 31, 2017
 
 
37,470
   
$
375
   
$
214,697
   
$
839,564
   
$
(56,817
)
 
$
997,819
 
Net earnings
   
 
     
 
     
 
     
19,738
     
 
     
19,738
 
Other Comprehensive Loss
   
 
     
 
     
 
     
 
     
40,956
     
40,956
 
Surrender and retirement of stock to Exercise options
   
 
     
 
     
 
     
 
     
 
     
-
 
Common stock issued for exercise of options
   
68
     
 
     
6,273
     
 
     
 
     
6,273
 
Common Stock issued for restricted stock awards
   
 
     
 
     
 
     
 
     
 
     
-
 
Cash dividends
   
 
     
 
     
 
     
(11,992
)    
 
     
(11,992
)
Stock-based compensation expenses
   
 
     
 
     
4,669
     
 
     
 
     
4,669
 
Common stock issued to employee stock purchase plan
   
7
     
 
     
752
     
 
     
 
     
752
 
Employee stock purchase plan expense
   
 
     
 
     
78
     
 
     
 
     
78
 
Balances at March 31, 2018
 
 
37,545
   
$
375
   
$
226,469
   
$
847,310
   
$
(15,862
)
 
$
1,058,292
 
 
Accumulated Other Comprehensive Income
 
The components of other comprehensive income (loss) consist of changes in net unrealized gains (losses) on available for sale investments with readily determinable fair values in fiscal 
2018,
 changes in foreign currency translation adjustments, and changes in net unrealized gains (losses) on derivative instruments designated as cash flow hedges entered into in fiscal
2019.
There were
no
reclassifications of gains (losses) from accumulated other comprehensive income (loss) to earnings during the
nine
months ended
March 31, 2019
and
2018.
 
The accumulated balances related to each component of other comprehensive income (loss), net of tax, are summarized as follows (in thousands):
 
   
Unrealized
   
 
 
 
 
 
 
 
 
 
 
 
   
Gains
   
 
 
 
 
Unrealized
   
 
 
 
   
(Losses) on
   
Foreign
   
Gains
   
 
 
 
   
Available-
   
Currency
   
(Losses) on
   
 
 
 
   
for-Sale
   
Translation
   
Derivatives
   
 
 
 
   
Investments
   
Adjustments
   
Instruments
   
Total
 
Beginning balance as of June 30, 2018
  $
24,682
    $
(69,496
)
  $
-
    $
(44,814
)
Cumulative effect adjustment for adoption for ASU 2018-02
(1)
   
2,371
     
-
     
-
     
2,371
 
Cumulative effect adjustment for adoption for ASU 2016-01
(1)
   
(27,053
)
   
-
     
-
     
(27,053
)
Other comprehensive income (loss), net of tax benefit of $1,792 on derivative instruments
(2)
   
-
     
(4,368
)
   
(5,769
)
   
(10,137
)
Ending balance as of March 31, 2019
  $
-
    $
(73,864
)
  $
(5,769
)
  $
(79,633
)
 
(
1
)
See Note
1
for further information related to the adoption of ASU
2016
-
01
and
2018
-
02.
(
2
)
 The gain (loss) on the forward starting interest rate swap will be reclassified into earnings beginning
October 31, 2019.
Approximately (
$919
) of the (
$5,769
) will be reclassified into earnings in the
12
months subsequent to
March 
31,
2019.
 
   
Unrealized
   
 
 
 
 
 
 
 
 
 
 
 
   
Gains
   
 
 
 
 
Unrealized
   
 
 
 
   
(Losses) on
   
Foreign
   
Gains
   
 
 
 
   
Available-
   
Currency
   
(Losses) on
   
 
 
 
   
for-Sale
   
Translation
   
Derivative
   
 
 
 
   
Investments
   
Adjustments
   
Instruments
   
Total
 
Beginning balance as of June 30, 2017
  $
18,989
    $
(67,924
)
  $
-
    $
(48,935
)
Other comprehensive income (loss)
   
22,286
     
10,787
     
-
     
33,073
 
Ending balance as of March 31, 2018
  $
41,275
     
(57,137
)
  $
-
    $
(15,862
)